Entrep

• Entrepreneur


  Originates from the French word entreprendre which means "to undertake"
• Entrepreneurship


  The process observing of correct practices in producing goods and services
• Enterprise


  Operating and managing the self-owned business venture
• Small business


  A business enterprise that correctly adopts and practices the principles of entrepreneurship
• Ordinary small business


  A business enterprise managed and operated by an owner who is not an advocate of and does not practice the concepts and principles of entrepreneurship
• Intrapreneurship


  Businesses that are managed by others for the benefit of the owners
• Business person


  Managing a day to day business
• Business risk


  The risk in entrepreneurship is called a
• Innovation theory


  Economic development as the product of structural change or innovation
• Sociological theory


  Social cultures are the primary driving elements of entrepreneurship. The entrepreneur is expected to perform the role of a good constituent by executing his/her entrepreneurial activities in line with good customs and traditions, religious beliefs, and morals
• Technological theory


  Modern technology is an essential factor in production. In the absence of modern technology application in entrepreneurship, economic development would be slow, and growth might not be expected
• Henry Leibenstein Gap-Filing Theory


  The primary role of entrepreneurship in any economic activity is to fill the existing gap
• Entrepreneurial mind frame


  Allows the entrepreneur to see things in a very positive and optimistic light in the midst of crisis or difficult situations
• Passion


  The great desire to attain a vision or fulfill a mission
• Creative mind


  Conceptualizes and designs a product that consumers find some use for
• Entrepreneurial competence


  Combination of strategy and practices
• Salient features of entrepreneurship

  • An art of correct practices
  • Entrepreneurship is a Wealth-Creating Venture
  • Entrepreneurship Provides valuable Goods and Services
  • Entrepreneurship Entails Opening and Managing the Self-Owned Enterprise
  • Entrepreneurship Is a Risk-Taking Venture
• Theories of Entrepreneurship

  • Innovation theory
  • Keynesian theory
  • Alfred Marshall theory
  • Sociological theory
  • Technological theory
• Job and career opportunities for an entrepreneur

  • Mid-level management
  • Business consultant
  • Sales
  • Recruiter
  • Teacher
• Essential characteristics of entrepreneurial mind

  • Creativity
  • Suspicion of predictors
  • Comfort with uncertainty
  • Openness to experimentation
  • Functional humility
• Characteristics of entrepreneur

  • Entrepreneur are in good physical health
  • Entrepreneur have to control and direct
  • Entrepreneur have strong personal confidence
  • Entrepreneur have moderate interpersonal skills
  • Entrepreneur are moderate risk takers
  • Entrepreneur have superior conceptual abilities
  • Entrepreneur have realistic outlook
  • Entrepreneur have high degree for emotional stability
  • Entrepreneur have strong personal drive
  • Entrepreneur have low need-level for status
• Entrepreneur 


  Originates from the French word entreprendre which means “to undertake”.
• Mind-set 


  the collection of thoughts and beliefs that shape your thought habits.
• Entrepreneurship 


  Is the process observing of correct practices in producing goods and services.
• Enterprise


  operating and managing the self-owned business venture
• Keynesian theory


  The theory put so much emphasis on the role of the government in

  entrepreneurial and economic development, most especially when the

  economy was experiencing depression.
• Sociological theory


  Social cultures are the primary driving elements of entrepreneurship. The

  entrepreneur is expected to perform the role of a good constituent by

  executing his/her entrepreneurial activities in line with good customs and

  traditions, religious beliefs, and morals.
• Sociological theory


  Social cultures are the primary driving elements of entrepreneurship
• True


  Entrepreneurship is an art and not a science.
• True


  Selling product doesn’t necessarily mean creating
• False


  Ordinary business believes change in environment is a plus factor.
• False 


  Entrepreneurship is the same activities to ordinary small business
• False 


  Ordinary business believes having competitors is healthy
• True 


  Entrepreneurship and small business have the same motif and operation